The Great Depression in America Essay -- essays research papers

The Great drop-offIrving Fisher, an economist at Yale University in 1929, confidentlystated, The nation is marching along a permanently high plateau of prosperity. Less than a calendar week later, the bottom dropped out of the stock market sending the American economy toward its worst downfall in history. The Great clinical depression was not unless responsible for a dramatic change in the structure of American politics, but also for a change in Americans expectations about government. The Depression affected all Americans, rich or poor, and was responsible for ushering numerous complaisant problems into the lives of citizens.Herbert Hoover was elected president in 1928. Prior to his election, during his acceptance idiom for the Republican nomination, he stated, We in America today are nearer to the final triumph over poverty than ever before in the history of any land. The poorhouse is vanishing from among us. Many Americans shared Hoovers optimism in the beginning of 1929. On January 1, 1929, The raw York Times printed an editorial reading, It has been twelve months of unexampled advance, of wonderful prosperity. If there is any way of judging the future by the past, this new year will be one of felicitation and hopefulness. afterward that year, on Tuesday, October 29, the market crashed. This day is known as Black Tuesday and is considered the angiotensin converting enzyme most devastating financial day in the history of the New York Stock Exchange (NYSE). Prices...